As of June 1st, trading pairs with AUD on Binance have been suspended.
Binance users in Australia are limited by the ability to make deposits or withdrawals in AUD via bank transfers, a move that could hinder the ability of Binance users in Australia to make deposits or withdrawals in AUD.
For any transactions or withdrawals after June 1, users are given the option to convert their AUD balances to TetherUSDT, a popular stablecoin pegged to the U.S. dollar.
Despite the discontinuation of bank transfers, customers can still exercise their buying and selling activities using their credit or debit cards.
Binance's peer-to-peer marketplace will continue its operations without any obstacles, providing an alternative route for transactions.
Binance Australia said its users were well-protected in the wake of potential concerns regarding fund security.
Bitcoin trading prices on Binance's Australian platform have been a notable divergence in recent times, with it falling almost 20 percent below the rates seen on competing exchanges.
The decision to resign Binance Australia's derivatives license from the Australian Securities and Investments Commission ASIC in April came after Binance Australia's request to reissue the licence.
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